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Old 09-25-2016, 03:39 PM
 
Location: Raleigh, NC
528 posts, read 935,103 times
Reputation: 364

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Is it correct that in this market, that (generally speaking) sellers are unwilling to work with a buyer who has a home to sell first as a contingency? I expect that it varies and I'm not referring to buying in the hottest neighborhood but trying to get a feel. Thanks.
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Old 09-25-2016, 03:55 PM
 
Location: Cary, NC
4,304 posts, read 5,988,329 times
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"Unwilling to work with" is a bit strong, but you would definitely be at a disadvantage compared to other offers. All depends on the house and level of interest. In general there's enough interest out there right now that sellers have plenty of offers to choose from without having to deal with contingencies.
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Old 09-25-2016, 05:04 PM
 
Location: Clayton, NC
514 posts, read 602,503 times
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Another key part of the equation is if your current home is under contract. If so, how far along? If you have your home under contract and have passed the Due Diligence phase, that is completely different than not having it listed yet. It is no guarantee the sellers will accept but it certainly helps increase the odds.
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Old 09-25-2016, 09:39 PM
 
Location: Raleigh NC
25,116 posts, read 16,209,782 times
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It is correct that if your current home is not under contract, most sellers will be unwilling to accept your Contingent on Sale offer.

If your Realtor can show the listing Realtor that homes like yours are selling in a matter of days, and the home you want to buy is the type that's selling in 120+ days, then your chances have increased.

Your Realtor can help you better analyze the dynamics of your individual circumstances.
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Old 09-26-2016, 06:51 AM
 
3,669 posts, read 6,574,832 times
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My next door neighbor has their house for sale for nearly three months, overpriced by at least $75k. I can only imagine the horrors of anyone waiting for them to sell before closing a dependent deal.
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Old 09-26-2016, 07:47 AM
 
2,819 posts, read 2,583,881 times
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When we sold we ruled out the contingencies but we also had multiple offers within 24 hours of being on the market. Once was all cash with no appraisal so we took that.
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Old 09-26-2016, 08:05 AM
 
Location: My House
34,938 posts, read 36,249,994 times
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Quote:
Originally Posted by NYC2RDU View Post
My next door neighbor has their house for sale for nearly three months, overpriced by at least $75k. I can only imagine the horrors of anyone waiting for them to sell before closing a dependent deal.
On the other hand, if someone who lives in a house that would sell quickly and is priced fairly wanted to buy your neighbor's house with a contingency, they'd be pretty silly not to consider the offer.
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